Bloomberg Senior ETF Analyst Eric Balchunas has warned that Zcash might adversely influence Bitcoin at this significant second.
In a latest post on X, Balchunas mentioned Zcash (ZEC) has “third-party candidate vibes, like Gary Johnson or Jill Stein,” arguing that pushing a separate privateness coin dangers “splitting the vote” when Bitcoin (BTC) wants unified political and cultural assist.
Balchunas’s remark comes because the Bitcoin vs Zcash debate intensifies. Arman Meguerian, founder and CEO of Timestamp, dismissed the concept BTC supporters are pivoting to Zcash. “I do not know a single Bitcoin maxi that thinks about Zcash in any respect,” he wrote on X.
Jan3 founder Samson Mow echoed the sentiment, claiming that Bitcoin maxis are “solely Zcash to roll our eyes at it.”
Associated: The Bitcoin vs Zcash debate intensifies as ZEC reclaims $700 level
Critics accuse Zcash of manufactured hype
The backlash grew sharper as different business personalities accused Zcash advocates of producing hype.
Mark Moss, a Bitcoin-focused enterprise capitalist, seasoned entrepreneur, and educator, not too long ago posted screenshots of outreach messages from advertising companies providing paid ZEC collaborations. “Marvel why ZCash is displaying up EVERYwhere rapidly?” he asked.
Market analyst Rajat Soni additionally warned that latest pleasure round ZEC seems to be like an try and “discover exit liquidity,” pointing to fabricated headlines claiming that Constancy analysts predicted Zcash reaching $100,000.
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Winklevoss twins again Zcash
However, not everyone seems to be skeptical of Zcash’s latest resurgence. The Winklevoss twins, founders of Gemini and early Bitcoin traders, not too long ago launched Cypherpunk Tech, the primary Zcash-focused treasury firm.
In an interview with Cointelegraph, they described Zcash as “encrypted Bitcoin”, arguing that Bitcoin is greatest for storing worth whereas Zcash excels in personal transactions. They view Zcash as complementary, not aggressive.
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